ADMS 1000 Chapter Notes - Chapter 10: Role Theory, Hollinger Inc., General Partnership

• School: York University
• Department: Administrative Studies
• Course: ADMS 1000
• Professor: Shahab Modirmassihai

Document Summary

The partners" financial resources are pooled and put into the business. All partners then share in the profits of the business according to the legal agreement created. While there are different types of partnerships, the most popular form is the general partnership. Should have ultimate control & right to select board. Degree of control relates to number of shares held and corresponding voting rights. Issues can arise if board found to be ineffective e. g. hollinger inc. Ethics is the study of morality or moral judgments, standards, and rules of conduct. A modern-day example of this is automotive companies performing a. Cost-benefit analysis on how to deal with potential lawsuits when harm has been done or may occur in the future. For example, an auto maker may compare the cost of defending lawsuits and paying damages for lives lost in car accidents versus the cost of recalling millions of cars with faulty parts.